Page 5 - Aditya Birla Group

Grasim Industries rights issue price fixed at Rs 1,812 per share

The company has decided on a rights entitlement ratio of six shares for every 179 fully paid-up equity shares held by the eligible equity shareholders as of the record date

UltraTech Cement slapped with two GST demand orders totalling Rs 72 lakh

Leading cement maker UltraTech Cement has received two demand orders, interest and penalties totalling Rs 72.06 lakh from the GST authorities. The company said it will challenge the orders before the appellate authorities. It has received an order from Assistant Commissioner, Bathinda, for a demand of "Rs 25.11 lakh together with interest and penalty, alleging that the ISD (Input Service Distributor) credit not reflected" in the statement of FY18, the Aditya Birla Group firm said in a regulatory filing on Friday. On Saturday, UltraTech in a regulatory informed that it has received another order on GST from Deputy Commissioner, State Tax, Bhavnagar, raising demand for "Rs 46.95 lakh together with interest and penalty, alleging availing ineligible ITC (input tax credit )". According to UltraTech, it has a "good case on merits to defend the matter before the Appellate Authorities" and shall contest the order. The order has no major financial impact on the company, it added. The Adit

Aditya Birla Capital infuses Rs 900 cr in 2 wholly-owned subsidiaries

Diversified financial services player Aditya Birla Capital Ltd (ABCL) on Tuesday said it has infused Rs 849.99 crore and Rs 50 crore in two wholly-owned subsidiaries -- Aditya Birla Finance and Aditya Birla Capital Digital Ltd, respectively. The investments were done through rights basis, ABCL said in a regulatory filing. Pursuant to the investments, there is no change in the percentage shareholding of ABCL and both continue to be wholly-owned subsidiaries, it said. ABCL made the investment in Aditya Birla Finance to meet its growth and funding requirements and improve its leverage ratio, it said. The investment in the other wholly-owned subsidiary is to meet growth and funding requirements, it added.

UltraTech hits new high, nears Rs 10,000-mark; stock up 6% in two days

A sharp surge in the stock price has seen the market capitalisation of this Aditya Brila Group firm near the Rs 3 trillion mark, BSE data shows.

Kumar Mangalam Birla's carbon black unit to raise $1.5 billion loan: Report

Proceeds from the sale will used mainly to refinance existing debt, with a smaller portion set aside to fund expansion, people familiar with the matter said

Hindalco Industries profit remains flat at Rs 2,196 cr in September quarter

Aditya Birla Group's metal flagship Hindalco Industries said its consolidated profit was almost flat at Rs 2,196 crore in the quarter ended September 2023. The company had posted a consolidated profit of Rs 2,205 crore in the July-September period of the previous fiscal, Hindalco Industries said in a filing to BSE. In a statement, the company said its net profit at Rs 2,196 crore was in line with the previous-year quarter, and down 11 per cent quarter on quarter, mainly due to accounting adjustments arising out of conversion from US GAAP to Indian accounting standard Ind AS. The consolidated total income of the company during July-September period dropped to Rs 54,632 crore from Rs 56,504 crore in the year-ago period, Hindalco Industries said. All the business segments of the company experienced improved quarter-on-quarter (Q-o-Q) performance. The copper business achieved its highest quarterly EBITDA of Rs 653 crore, a 23 per cent rise Q-o-Q, due to highest-ever metal ...

Grasim Industries to raise Rs 4,000 crore through rights issue of shares

The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024

Aditya Birla Finance to raise up to Rs 2K cr through maiden issue of NCDs

The NCDs will be issued with tenor options of three, five, or ten years offered with 'monthly', 'annual' or 'cumulative' interest payment frequency

ABSL MF's conviction play sets stage for turnaround in performance

A rejig in the fund management team coupled with tweaks to the processes and strategies helps the fund house shrug off period of underperformance

Grasim to launch its paint biz in Q4 under the brand name 'Birla Opus'

The production of paints will take place at the company's manufacturing plants located in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal

Aditya Birla launches Louis Philippe in UAE to expand presence in ME region

Louis Philippe, a premium menswear brand owned by the Aditya Birla Group, has forayed into the Middle East region with the opening of the brand's newest outlet in the UAE. Besides, Aditya Birla Fashion and Retail Ltd (ABFRL) plans to increase its retail footprint by launching several additional Exclusive Brand Outlets (EBOs) of its brands throughout the Middle East in the near future, Jacob John, company's President - Premium Brands, said. Its 2,000-square-feet store EBO offers a wide range of formal and semi-formal apparel and accessories that encapsulate the essence of elegant wear. John said it is a significant milestone for the company. "We are convinced that the brand will create an equally powerful impression in the UAE as the state boasts numerous promising shopping destinations, and we are excited about our growth prospects here. "In the near future, we plan to increase our retail footprint by launching several additional Exclusive Brand Outlets of our brands throughout th

Hindalco announces tech partnership with Italian firm to make rail coaches

Novelis, Indian firm's subsidiary, secures anchor customer for upcoming US plant

Aditya Birla Group's hospitality arm gets rights for 4 restaurant brands

Aditya Birla Group on Tuesday said its hospitality arm Aditya Birla New Age Hospitality (ABNAH) has acquired the rights for four iconic restaurant brands -- Hakkasan, Yauatcha, Nara Thai and CinCin. ABNAH has acquired KA Hospitality Pvt Ltd (KAH), the company that owns the home-grown brand CinCin and franchise rights of the other three global restaurant brands, for an undisclosed amount, according to a statement. "The four brands are positioned across the customer value pyramid, spanning the mid-market to premium segments," it said. With this acquisition, ABNAH has added seven restaurants to its portfolio across three cities. Hakkasan is a Michelin-starred brand serving modern Cantonese food while Yauatcha is an award-winning dim sum teahouse from London. Nara Thai is a contemporary brand serving Thai cuisine and CinCin is a modern Italian brand, it said. Aditya Birla Management Corporation and Founder ABNAH Aryaman Vikram Birla said, "we continue to believe in the remarkable ...

Aditya Birla Group expands its portfolio, adds four restaurant brands

Aditya Birla New Age Hospitality (ABNAH) has added four restaurant brands, namely Hakkasan, Yauatcha, Nara Thai, and CinCin to its portfolio

Adani Cement leaves industry body that represents large cement companies

The Cement Manufacturers' Association (CMA) collects data related to production and sales numbers in the country

Adani Cement leaves industry body that represents large cement companies

The Cement Manufacturers' Association (CMA) collects data related to production and sales numbers in the country

Aditya Birla invests Rs 5,000 cr in jewellery biz, takes on Tata, Reliance

Group to open large-format exclusive stores across the country with its in-house jewellery brands

Aditya Birla Group to enter jewellery retail business; to invest Rs 5k cr

Leading business conglomerate Aditya Birla Group on Tuesday said it is foraying into the branded jewellery retail business with an investment of Rs 5,000 crore. The new venture, Novel Jewels, will build large-format exclusive jewellery retail stores across India, with in-house jewellery brands, a statement from Aditya Birla Group said. This foray is a strategic portfolio choice that allows to tap into new growth engines and expand presence in the vibrant Indian consumer landscape, Aditya Birla Group Chairman Kumar Mangalam Birla said. "With rising disposable income, discerning and aspirational consumers are leaning more towards design-led, bespoke, and high-quality jewellery. This venture will capitalise on Aditya Birla Group's deep expertise in lifestyle retail and nuanced understanding of consumer preferences," he added. The company aims to tap the growing demand for design-led, bespoke, and high-quality jewellery in the country. With this, Aditya Birla Group will compete with t

Aditya Birla Group to invest Rs 1,250 crore into its financial services arm

Aditya Birla Group is set to pump in Rs 1,250 crore into its financial services arm Aditya Birla Capital Ltd. The board of Aditya Birla Capital Ltd (ABCL), which is into lending, asset management and insurance, on Thursday approved a preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, according to a statement on Thursday. Recently, ABCL announced its intent to raise Rs 3,000 crore, and its chief executive and managing director Vishakha Mulye had told reporters that any of the businesses needing capital will get capital to fuel its growth. ABCL said the preferential issuance will be undertaken at a price of Rs. 165.1 per equity share and is subject to shareholders' approval. Shares of the company closed 0.91 per cent up at Rs 171.70 a piece on the BSE on Thursday. Group flagship Grasim Industries also will invest Rs 1,000 crore while Surya Kiran Investments, another group entity, will invest Rs 250 crore in the preferential issue, the statement said.

Aditya Birla group to dilute stake in financial services arm via QIP

Roadshows to raise up to Rs 3,000 cr by selling 5-7% stake in AB Capital